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North Queensland Airport Group, which is a quarter owned by Auckland International Airport, has refinanced A$587 million of maturing bank facilities, including A$88 million for future capital expenditure needs. North Queensland Airport, which owns and operates Cairns and Mackay Airports, has refinanced its existing three and five year facilities, the Cairns-based group said in a statement. “Auckland Airport welcomes the …

The New Zealand dollar weakened following a volatile day after the Federal Reserve said it would start tapering its asset purchase programme while local data continued to point to a strengthening economy which will push up interest rates next year. The kiwi slipped to 81.73 US cents at 8am in Wellington, from 81.81 cents at 5pm yesterday and has traded …

The High Court has brushed aside a Greenpeace challenge to the way the Environmental Protection Authority treated Texan oil company Anadarko’s application to drill exploration wells in deep water off Taranaki and South Canterbury. But Justice Alan Mackenzie describes the decision as being made on narrow grounds. Anadarko would have faced greater public and regulatory scrutiny but for the fact …

New Zealand shares rose, with the NZX 50 Index clawing back most of yesterday’s selloff, after the Federal Reserve announced a smaller than expected reduction in stimulus and figures showed economic growth that beat estimates. Telecom, Fletcher Building and Ebos Group paced the gains. The NZX 50 gained 31.182 points, or 0.7 percent, to 4707.060. Within the index, 26 stocks …

Shares in Lyttelton Port Co closed at a record high since the South Island’s biggest port listed in mid-1996 after the company reached a settlement with its three insurers for a $438.3 million payout plus GST. The shares jumped 34 percent to $3.24 after the port reached a settlement with Vero, NZI and QBE in what will be one of …

The New Zealand dollar fell after the Federal Reserve trimmed its asset purchase programme in the face of a recovering US economy, in the first step towards ending stimulus which has been debasing the greenback. The kiwi fell to 81.80 US cents at 5pm in Wellington from 82.47 cents at 8:10am and 82.50 cents yesterday. The trade-weighted index declined to …

New Zealand’s economy grew at its fastest quarterly pace in almost four years, led by a booming dairy sector and as companies prepare for more growth in 2014, adding to the prospects for a hike in interest rates in the first quarter. Gross domestic product grew 1.4 percent to a seasonally adjusted $37.99 billion in the three months ended Sept …

New Zealand’s annual current account deficit widened to a four-year high as a reviving economy took in more imports and foreigners continued to reap greater profits here than kiwi firms garnered abroad. The current account gap widened to $8.8 billion, or 4.1 percent of gross domestic product, in the year ended Sept. 30, according to Statistics New Zealand. The actual …

Fitch Ratings has praised Fonterra Cooperative Group’s decision to hold the forecast payout to farmers and slashing its dividend by two-thirds amid a growing gap in prices between milk powders and its cheese and casein products. The Auckland-based company’s decision is “characteristic of the fiscal discipline that underscores its credit rating,” Fitch said in a statement. Fonterra has an AA …